Although Enron and the Department of Labor had wanted the bankrupt company to pick up tab for its $4 million annual retirement administration fees, Enron employees will have to shoulder that cost, Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court of New York has ruled.

This will average $320 a year per person, although that amount could rise as the company continues to reduce its work force, The New York Times reports.

While Judge Gonzalez’ ruling is a triumph for Enron’s creditors, he did leave open the possibility for State Street, administrator to the plan, to make a motion against it.

The staff of Mutual Fund Market News ("MFMN") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MFMN, and have not prepared, sponsored, endorsed, or approved these summaries.

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